Ionis Pharma Q1 Spinraza Royalties up 10%

Ionis Pharmaceuticals (IONS) Q1 results:

Revenues: $133M (-55.2%); Spinraza Royalties: $66M (+10.0%).

Net loss: ($48M) (-157.1%); loss/share: ($0.35) (-156.5%); non-GAAP Net loss: ($15M) (-111.8%); non-GAAP loss/share: ($0.11).

Pipeline highlights: Initiated the CARDIO-TTRansform Phase 3 clinical trial for AKCEA-TTR-LRx in patients with TTR-mediated amyloid cardiomyopathy.

Two medicines granted Fast Track Designation by the FDA: AKCEA-APO(a)-LRx for the treatment of cardiovascular disease due to elevated Lp(a) levels;

IONIS-C9Rx for the treatment of C9orf72-ALS.

Ionis generated more than $20M as numerous partnered medicines advanced.

Initiated a Phase 1 study of ION224, an Ionis-owned medicine in development for the treatment of NASH.

Upcoming Catalysts: Initiate the Phase 3 study of AKCEA-APOCIII-LRx in patients with FCS.

Refile WAYLIVRA NDA for U.S. marketing authorization.

File for WAYLIVRA marketing approval in Brazil with PTC Therapeutics.

The company is reaffirming 2020 financial guidance, including ending 2020 meaningfully profitable.

Previously: Ionis Pharmaceuticals EPS beats by $0.01, misses on revenue (May 6)

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